TaxTMI 
TaxTMI 
Chargiability of amount received for vacating the premises
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....hargiability of amount received for vacating the premises<br> Query (Issue) Started By: - Sujit Talukder Dated:- 18-5-2007 Last Reply Date:- 23-5-2007 Income Tax<br>Got 2 Replies<br>Income Tax<br>Amou....
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....nt received from shop owner by the shop tenant for vacating the premises is chargeable to income tax?If yes, how?Please clarify. Reply By Brijesh Verma: The Reply: Dear Sujit Ji This transaction amo....
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....unts to 'Transfer' under section 2(47)(ii) of the Income Tax Act as there is a 'EXTINGUISHMENT OF ANY RIGHT THEREIN'. The amount may well be subjected to Capital Gain Tax. Reply By Sujit Talukder: Th....
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....e Reply: Many many thanks for the reply.One more thing which I need to clarify as there is no amount involed which can be classified as Cost of Acquisition,can the rent pad to landlord be treated as C....
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....ost of acquisition/improvemnet or the entire amount will be taxable as Capital gain?<br> Discussion Forum - Knowledge Sharing ....